value by selling to an company here this a pretty. a look shares are up look, .88%, a little bit. gerri: a little bit. >> no one understands the deal they are being taken over. gerri: you have done a great job of breaking the story in lest few seconds, we're up against a break, where is this industry going? are we going to end up with just one exchange at some point. >> right here in new york. it will be slated. i would not be surprised in three years that new york stock exchange buys nazdaq i'll leave it at that. gerri: oh, boy charlie thank you, appreciate your time and breaking news that is the willis report, thank you for joining us. lou: good evening, president

obama and time honored phrase could be about on snatch defeat from the jawzs of victory, things not looking so good for the president in negotiations over the fifth most actively traded issue. over the fifth -- fifth call cliff. that seem yesterday to be making progress, demanding that congress raise taxes while threatening to veto a bill that would keep current tax rates in place for 99% of the country, the president further demanding that washington go his way or no way at all, president obama seems to be on his way to perhaps becoming the imperious president. >> i've asked the vice president to lead an effort that includes members of my cabinet and outside organization to come up with concrete proposals no later than january that i will push without delay.

this is not some washington commission, that is not something where folks will be studying the issue for 6 months and publishing a respect -- report that gets read then pushed aside. lou: you will notice that president did not call for concrete proposals on mental health care opublic school security, or any of the other issues at issue in the connecticut shooting last week. at that same pros conference where he demanded gun control proposal, president blasting speaker of the house john boehner or only wants to raise taxes on millionaires. >> if you look at what the speaker has proposed, he has conceded that income tax rates should go up, right now he only wants them to go up for millionaires, if you make 900,000, he thinks you can't

afford to pay more in taxes, but principal that rating are going up he has conceded. lou: you recall that president obama spent much of the past year, or year and a half, calling for higher taxes on millionaires and billion airs, the concessions that president referred to, leaving to more demands on the part of the president rather than a deal, congresswoman diane black is a member of the budget committee and joining us, and alter lapert is joining us and white wash over who is responsible for the benghazi terrorist attack continues in a brand-new, allegedl,ed inde independent re, sponsored by the state department. president obama today, said after last week's tragedy in connecticut, he made the

connection to say that country is now ready for compromise on the fiscal cliff. fox news chief white house correspondent ed henry with our report. >> reporter: as the announced vice president biden will spearhead ponc strong to mass shooting in connecticut, president obama of hit by questions about the fiscal cliff. >> if this past week has done anything it should give us perspective. >> reporter: at least twice he used gun tragedy and superstorm sandy to sell his budget plan. >> you think about what we've gone through last couple of months, a devastating hurricane, now, one of the worst tragedies in our memory, the country deserves folks doing will to be compromise on behalf of the greater good. >> reporter: in private, just minutes before the president's top aide charre that budget talks are coming apart and

pointed the finger at boehner, and saying his plans for plan b have shut down negotiation for plan a, a deficit deal that president tried to tell public it should not be about him. >> they keep minding ways to say no. i don't know how much of that just has to do with, you know, it is hard for them to say yes to me. >> reporter: that was shortly after the had th president suggt was about him, and his winning reelection message about taxing the rich. >> we have a extensive debate about this for a year, not only does the majority of american people agree with me but half of republican voters. >> reporter: boehner responded. >> tomorrow the house will pass legislation to make permanent tax relief for nearly every american, 99.81% of the american

people. the president will have a decision to make. he can call on senate democrats to pass that bill, or he can be responsible for the largest tax increase in american history. >> reporter: boehner faces a big problem with his plan that would raise tax rates only on incomes above a million dollars it is not clear he could get most of his conference to support any tax hike. >> i think what we saw here is a act of desperation. >> reporter: the president hesitated when asked if he trusted boehner to sell a final deal to conservatives. >> sometimes, they may not see an intensive in cooperating with me in part because they are more concerned about challenges from a tea party candidate. >> reporter: two hours later, a group of conservatives excoriated boehner and had a warning for republicans who

support his plan. >> my answer is about putting primary challenges is yes, if the republicans support this tax increase, they will loss control of the house. in the 2414 elections. >> reporter: charging that boehner is missing the point that the real problem is spending. >> everything has been a step backwards for the republican party, it has been a piecemeal surrender. >> reporter: at a meeting late this afternoon, treasury secretary geithner, told them that boehner's plans have no spending cut or major entitlement reform, and they warn there will be mayor market turmoil unless there is a big dial cut in the next few day, lou. lou: thank you, ed henry, chief white house correspondent. the there is a meeting tonight at the white house. our first guest tonight said

that president's behavior since the election appears to prove he wants america to go over that fiscal cliff, joining us now congresswoman diane black, thank you. this -- let's begin if we may, with the speaker in a 56-second long news conference, saying, you know this is not going to work, we're going to have a vote tomorrow, and you all are going to decide whether it passes, and the president can decide what he is going to do, that sounds kurt, specific and final, is that a correct impression? >> thank you, lou forking what me -- for having me, it's always good to be with you, you are hearing from speaker boehner is a great deal of frustration. we've been willing to go to the

table and talk with this president but he continues to move the goal post, during the campaign he said he wanted to tax millionaires and billionaires, then came back and said $250,000, which is the small businesses, that would hurt the small businesses and those working for those small businesses, 700,000 jobs loss. and then campaign 3 cuts for every $ 1 of revenue now $1.6 trillion world of spending in that another spending on a stimulus package that did not work the first time. he keeps moving the goal post. lou: let me lot our audience know right now in president's proposal 1.3 in tax hikes, and about 850 billion in spending cuts. and depending how you want to do the math. not quite speaker boehner said, a balanced approach, and much smaller than anything that had been discussed on the spending reduction side throughout the

campaign or these negotiation. >> we keep on -- again, hearing him move the ball down the court, and move the goal post, what was real discouraging for me is what secretary geithner about two weeks ago, said, oh, yeah, let's go off the cliff, i am beginning tning to believe ts where they wanted to be where they begin with, so they could have over $4.7 trillion worth of new revenue. lou: i think you make a very good point, and i think a lot of people would be surprised that you or any else on the republican side, would not take the treasury secretary at his water, suggestions we go over the cliff. you know surely he had not a capreccous mediocre line who sawlwould say things lightly, te him at his word. >> i have been saying this since the day that i saw secretary greater in with that flip ant

attitude, say, yeah we can go off the cliff, and it's okay. but these are hard-working taxpayers we're talking about, we're talking about taking more money out of the economy and giving it to the federal develop, we already have a spending problem here in washington, i don't top give them -- i don't want to give them any more of the taxpayer dollars, we have to look at end of the year when tax cuts expire this will be largest tax increase in history of the nation. lou: congresswoman black, we know, after watching the fiscal cliff negotiations, we know what the risks are and likely consequences and implications are, but what we do not wasn't is how for example, you will vote tomorrow on plan b, how many in our caucus will support plan expect b, and whether or ne president will get the opportunity to decide to raise taxes as he put it over the

course of the year on millionaires and billionaires, he seems unsatisfied with that but your thoughts ? >> i'm not -- i don't know that the vote count is, but the plan has been out for over 24 hours, we're still looking at it to and all parts it it we hearing from your constituents, my role is to make sure protection the hard working taxpayer, i want to protect as many as i can. lou: then you have to vote for it. >> that is what we have to do at the the day we have to put a vote in there and pass it over to senate, who knowsa what senate will do. lou: reed -- as you know reed said he is not going to do it president said he will veto it, but i have to say you to, i have to say you to republicans will either have the backbone and prince pehl to do precisely what their leader their speaker has said do, and congress centss

will rest -- consequencessing rest, the last person to act and last person to exercise the decision is the one with the responsibility, in this instance it will be the president. >> lou, it is my responsibility being sent by my constituents and given hon tor serve to make sure i protect them as much as a come and that is really what i will do, we know that raises taxes, especially when the economy is so difficult. and we could potentially go into another reaction, lose more jobs, see a decrease in the aim of revenue, by the way, talking about a spending problem we had in dc we're in a revenue situation up to historical average, and almost back to 18% of gdp and our revenue collection that tells you we have a spending problem here in in town. lou: there has never been doubt here. and we are keenly aware that your constituents sent the ight 57 to represent them,

congresswoman diane black thank you. >> thank you, lou. lou: we'll have much more on the stalemate, the impa, the obama-boehner standoff, and the country's thrift for leadership on these issues, budgets, taxation, economic growth,. here tonight. >> finally official report on benghazi, and it is a white wash. >>murder of four americans, including the killing of our ambassador in benghazi, formally no one's fault, the stonewalling goes on. ambassador john boldon and jude iljudith miller among our gifts. >> suddenly fiscal cliff is looking steeper and closer. noted economist arthur lapert joins us to tell us how this game plays out.

lou: negotiations over the fiscal cliff are getting tense and nasty the part of the president in one reference today, those negotiations still continuing despite the unpleasant ness, if you we'll, and we'll be covering that with art ouart baronnure lapre. and we have two days of 99 giving up 11 today, and volume on the big board approaching 4 billion shares. general motors stock up, news that general motors and the american taxpayer is breaking up their relationship.

buying back shares. that is still above today's closing price, we'll see whether or not the remaining shares are traded in the open market, under the most optimistic possibilities, taxpayers will lose money on the gm deal. as expected. >> news that investment bank of ubs agrowed to pay a fine, and hit with criminal wire fraud charges in japan not affecting the stock, crude oil prices jumping sharply, a further dip in gasoline prices, maybe threatened now, crude oil up just above $89 a barrel in treasury margaret, government's 10 year declining for the first time in three sessions, closing at 1.80%. >> ratings gage fitch warning that fiscal cliff poses the single biggest near-term threat to the glomy. really? joining us now alter lapre, good

to have you with us. start with these negotiation that got personal, there seems to be -- what looked like a bright possibility yesterday looks like a dark prospect tod today. >> it does, i don't know where the president is going the way he is, the worse group to raise taxes are is on the high evelyn come earnings, they are job creators, you can't laugh jobs and -- love jobs and hate job creators, i am not sure why it is not clear as a bell, these are people, you are not going to get money from anyway, if you raise rates they will go around it. boehner is doing as good a job that i can imagine, live that

interview with diane black, she world class, and let it fall on to obama's thing to veto the bill, i dare him. lou: as you dare him. and rest of us humble mortals s hope they can come to their senses and craft a deal. >> i would love that to be honest. lou: the deal takes a shape. sequestration is not even in the discussion. i frankly, as a matter of simple pride, do not understand how speaker boehner has not said in the sweetest and respectful tone, go to hell, this president is act emperrialy not presidential. >> boehner represents 235 republicans in the house, and

maybe some democrats, he has a whole set of constituents with their own opinion, he cannot go changing his mine. so, the president is taunting boehner. and it is too bad because, the americaninterest is at stake, we really do need a deal, and specifically not to raise taxes on anyone. you don't tax the economy into prosperity. lou: i got you on taxes, on the record, and i seed to you're view, but i happen to be, if you will pragmatic in this sense. i don't think that a tax on million ars is the end of time. >> it is not. lou: and fact is that it is an important policy choice we're go to make on sequestration, the ratio spending cuts, 2 to 1 over tax increases.

that is a better deal, you made a career of discussing incentives and consequences, it is the best prospect for the republicans. they there are incentivized to say over the cliff. >> i think that the republicans do not really want to go over the cliff. i think it would be better for the americans and countries than to go over the cliff. lou: we got you on the record supporting higher taxes. >> oh, uyou do not. you know i support getting something done by extends tax cuts. you know president is the president after all. and -- >> he a president for crying out loud, not an emperor, i find this amazing, what in the world, who did we exhault.

>> you are right, what a difference between this man, and my president ronald reagan, what a difference, 86 tax act, rating lowers,. lou: i remember a tax increase in there too. >> cap gains tax increase you are right. lou: artur laffer always g goodo talk with you. >> thank you. lou: up next an independent panel blames state department failures in benghazi on -- >> we take that up next. >> a motive in sandy hook shooting tragedy has emerged. putting mental health in the spotlight. dr. gail salt will join us next.

lou: three state department officials have resigned in the wake of a damning new report on the state state department's handling of the benghazi

terrorist attacks. an independent panel, including management, lead to a lack of security at the consulate consulate and the murder of four americans, including u.s. ambassador christopher stevens. chief intelligence correspondent catherine herridge is in washington, and she has a closer look at the findings. >> at 39 page unclassified report into the benghazi terrorist attack is dating. within hours of its release, three state department officials, including this woman and her boss resigned under pressure as investigators laid the blame upon secretary holick hillary clinton. >> the decision-making takes place. reporter: the report offers conclusions and undeniable facts. among them that there was no

demonstration prior to the assault. al qaeda and its franchises are not dead and they found a new safe haven in eastern libya. that led to the deaths of four americans, including ambassador chris stevens. >> i think the conclusion is not intended on it. mistakes were made, lives were lost. lessons need to be learned. reporter: in the summer of 2012, the report documents at least 20 security related security-related incidents in gaza, including the assassination attempt on thh matter. the state department continues to rely on the libyan militia security contractors. neither provided meaningful defense. the reports state it was ambassador stevens report to travel to benghazi on 9/11. his status as a leading government advocate on libyan policy and his expertise on benghazi in particular cost washington to give unusual deference to his judgment. as to the loss of military response, the report claimed

that the system worked. >> or something recently was not enough time for u.s. military forces to have made a difference. >> administration officials emphasized clinton's letters to congress, where she accepted all 29 reports. there was no denying culpability. republicans renew calls for clinton to appear on capitol hill. >> i do think it's imperative for all concerned that she testified in open session prior to any changing of the regime. i think that is very important for her. i think it's very important for our country. reporter: today, fox news told secretary clinton that she has agreed to testify on capitol hill before january in the testimony. she can only explain why the obama administration favored this in libya as a documented threat from al qaeda and tomorrow, two of clinton's people will testify in her stead. lou: catherine herridge, thank

you very much. this report, as you say, that decision at the level of the department, the secretary. >> that is the key piece that's missing. lou: making it clear they wanted to keep it at the assistant secretary level. >> we also don't know why it was that the events in that situation on 9/11 have not been made clear in a very transparent way. only secretary clinton can talk about this and administration policy in the small footprint, which really was undercut by the folks on the ground. also, what were the real decisions that she made and the president made in response to that attack. one final note. admiral mullen said that the system worked, but they couldn't get there in time. in fact, almost four hours, the ambassador was missing that evening, and they were looking at a potential hostage situation, and they did not act. lou: catherine herridge, thank you very much.

chief intelligence correspondent for fox news. much more on what appears to be the benghazi whitewash coming up here next. >> president obama today made the fiscal cliff negotiation personal. a not so nice. to paraphrase the president, it is all about him. is there hope for a deal, or should we brace for the fall? the "a-team" is next. the tragedy in newtown, connecticut. the president has decided that it's all about gun control. americans, however, say that the real problem is mental health and mental health care. our doctor joins us next in just moments. more than three months since the terrorist attack in benghazi. the murder of her ambassador in three other americans and a state department investigation finds that there is no one at

fault. judith miller and ambassador john bolton join me next. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. aneveryone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card r people who like more cash. what's in your wallet? ♪ [ engine revs ] ♪

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we'lllou: now to report on the

benghazi terrorist attacks. whether it amounts to a whitewash. joining us now is judith miller, former u.s. ambassador to the united nations, john bolton. thank you both for being here. i would like to start with a couple of the findings from the executive summary of this report. these two findings occur with one paragraph. first, embassy tripoli did not demonstrate strong and sustained advocacy with washington for increased security for special mission in benghazi. that means the consulate. lou: here's the other binding after one paragraph.

in the days and months and weeks leading up to it, were inadequate. despite repeated requests and special mission in benghazi and embassy tripoli for additional staffing. judith miller, reconcile what was directly contradictory findings within a paragraph of one another. >> secretary of state clinton is going to have to answer that question. i think this is an incredibly damning report about the administration. the behavior and security posture in benghazi. questions are going to be asked and they will have to be entered. lou: whitewash an incredibly damning report. ambassador bolton? >> we don't know if it named any

names like ttree people who was resigned today, but i can tell you that we had a lot of jobs that the state department posted. when someone is going to take ake.fall of the department, that i can't tell you, they can't read this report are not included the secretary of state and the top people were either completely asleep at the switch were utterly unaware of what was going on in libya and the broader middle east. or maybe some commendation of both. lou: i want to challenge you both, if i may. out of deepest respect. i am fond of you both. but i didn't learn a single new thing in this report that i haven't already been a fan of. frankly i am stunned to see that there is no naming of individuals responsible. there is a failure here to talk about the video. the real-time video from of the

facility and from the jonah was in the air within two hours of the event. i am stunned to see that there is a whitewash of a decision making but refused to send u.s. forces to defend benghazi and the missing ambassador. i am stunned at those omissions. >> well, i think that there wasn't enough time to have added military support for those people who were trapped at the annex, as opposed to the consulate. but i think that you are right about this. all of the questions or many of the questions that you and others on fox news have been asking were not answered by this report. what i found personally depressing about this report was the repetition of failures that we have seen since the marine compound bombing in lebanon in

1983. how much time does it take for the state department and the u.s. government learned that you need arabic speakers on the ground? or that you need added security cameras on the ground. for that you need enough people to protect your people on the ground. we have gone over this again and again. the state department doesn't seem to learn it, and that is where i think larry clinton is going to have a problem spewing ambassador bolton? >> when they talk about systemic failure, you have to say who is in charge of the system. the system, the captain of the state is the secretary of state. maybe they didn't want to say that, and maybe a panel didn't mean to say that. that is the inescapable conclusion of that lonn litany of failures. and i think that while the scope of this report is very limited, it lays a basis for congress to go forward. i think that we shouldn't link at the clear and sharp,

unambiguous statement. there was no demonstration in benghazi. they knew from the get-go that this was a terrorist attack. lou: you can cut this any number of ways that you want to in this administration. the american people were lied to. they were like two from the outset of this tragedy. these terrorist attacks are still being lied about whether directly or a mission, as far as i am personally concerned. ambassador, i want to interject something to you. if i may. there is a phrase of the week on this broadcast. thing the state department on tuesday dismissed john bolton's assertion that secretary of state hillary clinton have faked an injury and illness about the libyan terrorist attack. here's what ambassador bolton said. every foreign service officer in every foreign minister in the world knows the phrase when you don't want to go to a meeting or conference or an event, you have a diplomatic illness. this is a diplomatic illness.

thank you both for being here. ambassador bolton, thank you. tomorrrw, jon barrasso joins us and will be lovely, jeffrey garter, two of the best psychologists in the nation will be with us. and time magazine maxim magazine of the year and we will come right back.

lou: just about everybody's down stance on gun control following the newtown, connecticut, school massacre. a new rasmussen poll showing our mental health system should have changes as well. 40% say that mental health

treatment would do more to prevent mass murders than gun control. 27% say stricter gun-control laws. joining us now is doctor gail saltz. good to have you with us. >> thank you for having me. lou: as i said earlier in the broadcast, gun-control proposals on the president's desk by next month. but not imperiously ordering studies on mental health, school security. i mean, this is simplistic and reflexive and single-minded. what is your reaction to the role of mental health in these tragedies as the president noted, far too quickly? >> it is a piece of the puzzle. i would love to say that it is a complex puzzle. and i do think that looking at gun-control is going to be

enforced be one if i may say, what i find interesting is everyone has a view of this thing. and they can't help but bring that forward as you just did with gun-control. >> the reason i say that -- lou: your personal opinion is important. but i wanted to focus on mental health, because it's one of the areas that is being ignored. >> what i'm saying is that most of these crimes are not committed by people with serious mental illness. i think that's important to know. most of these are not seriously mentally ill people. they are angry, disenfranchised. people who want to take revenge to fill that others are to blame. that being said, i am delighted that the country is willing to take a look at the facts that one out of every 70 people have a serious mental illness.

one out of every 70 people had a mental illness. lou: yes two sometime in your life, less than a third of those common come in for treatment. less than a third. and we can't take the finances of the situation. less than 10% of our health care dollars health care dollars are spent on mental health care. lou: by the lake in the and the states have reduced their spending on mental health care by $1.7 billion as a result of this recession. >> at the bottom of the barrel. lou: the other aspect is that it is far more difficult to find psychological health than it is to find a doctor or dentist, and that is just a fact. >> yes, it. lou: the reality is that if we don't understand that we have people that are ill enough to be attacking, you know, i will defer to your discipline and

your mastery. the young man commits these crimes, if a young man goes to the school and gun down 20 students -- six adults -- that is pretty much evidence of a serious mental disorder. would you agree? >> i can't say that. lou: but you can say that it wasn't. is that correct? >> i cannot say that. he could've been very mentally ill. lou: in your profession -- [talking over each other] the attestation rather than the clarity is asserting. >> you know, it is frustrating. it is trusting for me as well. lou: let's cut to the chase. lou: let me ask you another question the legal delays and this woman, i

mean, can you imagine how she felt? she knew that she was losing her son. [talking over each other] [talking over each other] lou: there was great emotional turmoil on her part as she witnessed what was happening to her son. she can't get the legal profession to help her. she can't get the mental health professionals to help her. >> there are many things that might intervene in some of these kinds of cases. people are still ashamed in 2012. and they don't bring their family member or themselves into treatment. there many parts of the country were there or not practitioners and those things all -- lou: but they have to grow up and start talking straight in helping patients and start understanding stigma -- you have to help people.

>> you can't help a person won't commend. lou: you can't tell the person that hides behind professional standards that are completely incomprehensible, and a legal system that will not permit action to help families and individuals of a community. >> i agree that the mental health profession needs help in changing some of the laws so that there is a balance between this and getting care. we don't want to take away the civil liberties by committing that inappropriately you and your profession needs to focus on one thing. care for the patient. and care for the families of that patient in the community are met absolutely. the rest is politics. lou: you get the last word. >> we need some help with the politics and finances. that is what limits us. >> b1 it is great to see you again. thank you. lou: up next, president obama

blames the fiscal cliff impasse on himself in a kind of interesting perverse way. john boehner holds one of the press conferences that is the fastest on record. i hope he set a standard for the political class. doug schoen, nina easton, and michael ramirez. all coming up next. man: we are rolling. all right, mama's gonna bring it home, mama's gonna bring it home. oh, no! man: oh, mom! aah! announcer: challenge your kids to be active and eat healthy. all right, let's see what you can do. let's go. announcer: search "we can" for ideas on how to get healthy together.

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lou: joining us now it the a-team. political analyst doug schoan. and michael ramirez, a new title? we'll talk with michael about, that "fortune" magazine columnist nina easton. let's start with, i don't know if you saw my discussion with dr. saltz but we're talking about mental illness, in this country as if we're in the

middle ages, am i wrong? >> yes, you have to go back really i think the aclu on this question, and big problem in my mind and a lot of people's mine you cannot commit an adult even, you cannot commit an adult even if that person is threatening until they actually committed a crime or done something violent. that say problem -- that is a problem. there are a lot of people in this country that need serious attention before violence strikes. lou: 20% of us needing health at some point, in the course of a year. >> his this in my family for a number of generations, of course, this fellow was mentally ill. it is clear, and clear that

unless we get treatment for mental health we'll have more tragedies. lou: michael, response of our policymakers in washington, is to talk about gun control, not public school safety or security or mental illness or what we're doing to ourselves in our society when it comes to violence. >> the people react mostly to these events. it is understandable but put it in perspective in last 30 years, 4543 people have been kill -- 543 people have been killed in the mass shootings, there are about 18 a year, we need a proper solution. a ruling that allowed insane team to be their own judge

whether or not they are put in mental institutions, we saw it in the case of norway that person who had the mental problems and a great health system, they could not prevent ha the shooting there either. neil: we're short on time, i will turn to fiscal cliff. another mind numbing and perhaps a demonstration of issue we're@ talking about, the from the saying he will veto, harry reid saying that plan bee -- bwill not pass, and john boehner said it is plan b or the highway this time mr. president because we've had it, thig my words. >> i need to add we have to do something about semiautomatic weapons. weapon. lou: i appreciate that, i am on time. >> on phys cal fiscal cliff.

i think that president up appropriately tried to tie this to mass murder, saying because of that, you have to come to my terms, and agree to my terms, the republicans have given a lot, and -- president. lou: what do you think? >> at the end of the day, i believe there will be an agreement, it will be small bore. >> i agree with 1 13 nina, we'll comeback after christmas. it will avoid worse impact of fiscal cliff and sequestration but it will not solve the problem. lou: in time to prevent turmoil in the market? >> it will cause more turmoil, we're not taking about tax increase on investment here, 3.8